Repairing or replacing home appliances can be pretty expensive and inconvenient, especially since they happen unexpectedly.
For that reason, it is imperative that as a homebuyer or homeowner, you register for a home warranty plan to cushion you from the repair and maintenance cost. Different companies offer different home warranty plans but choosing the best home warranty company can be difficult, especially if you are new to the concept.
Today's article will help give four essential things to consider when choosing the perfect home warranty company in 2021.
Reputable Company History Based on Excellent Service and Professionalism
To get the most out of your home warranty policy, it is advisable to always go for reputable companies with a proven track record of delivering comprehensive home warranties as per industry standards and customer satisfaction.
Companies that have been in the industry long enough are the best, especially if you plan to use a home warranty plan for the first time.
There are several ways to go around this issue. First, confirm that the company has industry certifications and membership of relevant authorities. Second, you can evaluate customer reviews to understand the company's reputation, reliability, customer service, and quality.
Authentic customer reviews about the companies are best sourced from online conversations, preferably on social media pages. Companies that get positive reviews can offer you a starting point to select the best home warranty companies. You can make a list of such companies and then get to undertake in-depth background checks.
Different and Unique Home Warranty Plans
Now that you have filtered a few companies from your long list, you can proceed to the imperative aspect of comparing the different home warranty plans based on expected premium costs.
Remember, the aim of getting a warranty home policy is to cushion yourself from the unexpected maintenance costs from various home and appliances damages. Consequently, it would be prudent to choose a company that offers different and unique warranty plans that you can choose from depending on your home needs and budget.
For instance, if you buy a home with used appliances and systems, it would be best to take a comprehensive plan. A less comprehensive plan would be recommended for new homes with new appliances since most items would be under the manufacturer's warranty. In such a case, you are spared the cost of maintenance and repair for a few months.
On price, the company should offer a mix of plans based on premium costs. Typically, premiums for a home warranty cost an average of $250- $600 annually, which can be paid monthly or yearly depending on the company.
Besides, you will also pay for the service call fee that varies between $50 and $100 depending on the company policy. Nevertheless, a good home warranty company should offer plans that have flexible payment terms.
A Network of Reputable Contractors
Typically, once you have filed your claim, it is the responsibility of the home warranty company to facilitate the repairs to be undertaken within the shortest time possible. In this case, they would send one of their technical contractor's team to your residence. If that is the case, you must undertake due diligence to assess the contracted companies assigned to undertake the repairs.
The contractors should have a reputable history of professional service and excellence. They should also meet all the industry-standard requirements as stipulated by the Federal and State authorities. Besides that, you should also inquire if they can allow you the freedom to choose an independent contractor if their preferred contractors are not within your area of residence.
Clear and Straightforward Service Agreements
Good warranty home companies have well-written service agreements. Service agreements are written documents that set out terms and conditions for service between customers and providers.
The company you select should offer you service agreements that explain everything about the warranty plan that you want to purchase. Professional service agreements should capture payment, contract termination, confidentiality, the scope of services, claim refunds, and dispute resolutions terms.
Besides issuing you the service agreement, the company should assign you a relationship or account personnel to explain to you what your preferred policy package entails, the role of the company, and your role as a client before signing the agreements. They should also make a planned visit to your home to assess and give expert advice.
But above all, the company should be clear and straightforward on its limits and exclusions. Limits and exclusions are major pain points for homeowners since many find it challenging to understand and interpret them. A good home warranty company should provide descriptions of all limits and exclusions, allowing you to make an informed decision on the best home warranty plan that suits your needs.